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AMYRIS : Announces Plans to Expand into Asia and Global Surfactants Though Collaboration with Wilmar, One of World's Leading Agribusiness Groups

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06/16/2011 | 02:15pm CEST

Amyris, Inc. (NASDAQ: AMRS), a leading developer of integrated renewable products, today announced that it plans to establish a collaboration with Wilmar International Limited. The collaboration will focus on the development and worldwide commercialization of a family of surfactants derived from Amyris Biofene? for use in a range of products, including consumer packaged goods, personal care products and industrial applications. The parties expect that these surfactants will be effective replacements for nonylphenol ethoxylate surfactants (NPEs), the use of which is currently being phased out or severely restricted by regulatory agencies around the world due to health and environmental concerns. The current market for NPEs exceeds $1 billion per year.

The plans for the collaboration contemplate that the parties will engage in a feasibility study to complete the technical development of the surfactants, engage in testing activities to validate product performance and customer acceptance and secure necessary regulatory approvals for manufacture and sale of the products. Upon completion of the feasibility study and subject to the execution of definitive agreements, Amyris and Wilmar anticipate forming a joint venture entity, through which they would manufacture the products to be marketed by Wilmar through its established channels. The joint venture may produce its own Biofene for captive use.

"This collaboration represents an important step in the additional geographic diversification of our renewable products business," said Amyris CEO John Melo. "Wilmar is the leading agribusiness group in Asia. Its integrated business model, rapid growth mode and Asian presence and distribution footprint combined with our breakthrough technology will provide a powerful platform for capturing a portion of the large global surfactants market."

About Amyris, Inc.

Amyris is an integrated renewable products company focused on providing sustainable alternatives to a broad range of petroleum-sourced products. Amyris uses its industrial synthetic biology platform to convert plant sugars into a variety of hydrocarbon molecules - flexible building blocks which can be used in a wide range of products. Amyris is commercializing these products both as No Compromise® renewable ingredients in cosmetics, flavors and fragrances, polymers, lubricants and consumer products, and also as No Compromise renewable diesel and jet fuel. Amyris Brasil S.A., a subsidiary of Amyris, oversees the establishment and expansion of Amyris's production in Brazil. Amyris also has fuel distribution capabilities in the United States through its subsidiary, Amyris Fuels, LLC. More information about Amyris is available at www.amyris.com.

About Wilmar International Limited

Wilmar International Limited, founded in 1991, is today Asia's leading agribusiness group. Wilmar is ranked among the largest listed companies by market capitalisation on the Singapore Exchange.

Wilmar's business activities include oil palm cultivation, oilseeds crushing, edible oils refining, sugar, specialty fats, oleochemicals and biodiesel manufacturing and grains processing. Headquartered in Singapore, Wilmar has over 300 manufacturing plants and an extensive distribution network covering China, India, Indonesia and some 50 other countries to support a well-established processing and merchandising business. Wilmar also manufactures and distributes fertilisers and owns a fleet of vessels. The Group is backed by a multi-national staff force of about 88,000 people.

Over the years, Wilmar has established a resilient, integrated agribusiness model that captures the entire value chain of the agricultural commodity processing business, from origination and processing to the branding, merchandising and distribution of a wide range of agricultural products. Wilmar is a leader in the supply of high-quality processed agricultural products to the food manufacturing industry, industrial and consumer food catering businesses and has strong leadership positions in consumer-packed products in its targeted markets. Through scale, integration and the logistical advantages of its business model, Wilmar is able to extract margins at every step of the value chain, resulting in significant operational synergies and cost efficiencies.

For more information about Wilmar, please visit www.wilmar-international.com.

Forward-Looking Statements

This release contains forward-looking statements, and any statements other than statements of historical facts could be deemed to be forward-looking statements. These forward-looking statements include, among other things, statements regarding future events (such as Amyris's relationship with Wilmar, the parties' ability to successfully develop and commercialize surfactant products, and the expectation that such products will be effective substitutes for NPEs) that involve risks and uncertainties. These statements are based on management's current expectations and actual results and future events may differ materially due to risks and uncertainties, including those associated with any delays or failures in development, production or commercialization of products, our reliance on third parties to achieve our goals, and other risks detailed in the "Risk Factors" sections of Amyris's annual report on Form 10-K filed on March 14, 2011 and quarterly report on Form 10-Q filed May 11, 2011. Amyris disclaims any obligation to update information contained in these forward-looking statements whether as a result of new information, future events, or otherwise.

Amyris, No Compromise and Biofene are trademarks or registered trademarks of Amyris, Inc.

Schwartz Communications
Merrill Freund or Alison Mickey, 415-512-0770 (Press)

© Business Wire 2011
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Financials ($)
Sales 2016 92,6 M
EBIT 2016 -41,0 M
Net income 2016 -54,8 M
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 2,72x
Capi. / Sales 2017 1,91x
Capitalization 251 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 2,68 $
Spread / Average Target 151%
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John G. Melo President, Chief Executive Officer & Director
Geoffrey M. Duyk Chairman
Raffi Asadorian Chief Financial Officer
Joel Cherry President-Research & Development
Louis John Doerr Independent Director
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